City Council to Declare Bond Sale for Garage Construction
COLUMBIA - Assistant City Manager Tony St. Romaine said Friday the city plans to sell bonds to pay for project costs of building the Short Street parking garage.
St. Romaine said the council would announce the sale at its meeting Monday. The city wants to issue bonds totalling about $9 million over 20 years to pay for the project. St. Romaine expects the bonds to be issued within the next three to four months.
Also on Monday, the City Council will take action on amending a price increase in parking meters downtown. Romaine said the price increase would raise an additional $600,000 revenue annually for the city, which will help pay back bond holders.